How to Detect Potential Chinese Stock Frauds [View article]
Dear Active Retail Investor:
Can you please explain to us why WATG turned out to be a complete fraud? I mean, they had plenty of media exposure, great Chinese websites for their subs, detailed information about partners/ suppliers /clients / etc. etc ...
Similarly, can you explain to us why YONG is a complete fraud, even though they have constant media coverage, and high-ranking communist officials visit and "inspect" their operations every three months or so?
Here is the only true way to detect potential Chinese stock frauds: Assume any Chinese stock listed on a US exchange (instead of in mainland China) is a fraud, and try to prove the opposite!
@ajj53: A book that is written by a Director and a COO, and praised by the Chairman and CEO, the head of Marketing and a Director, and an Independent Director is not just any book. Plus, it was corroborated by another book. Sorry about your "family trust."
Yongye: When A Halt Is Just A Start [View article]
@Matthew: First, did you notice that Mr. Guttenberger can't read and can't count? (hint: check out the delisted CVVT) Second, what were those "questionable facts?" Third, why do you need a source for the industrial secret? Just show up unannounced near the fences around Yongye's facilities, and you will have a choice of refreshing hot water or tea, served by the Public Security Bureau (aka the police) goons while enjoying a friendly conversation and storage cleaning. Make sure to bring your cell phone - they really love those cell phones!
L&L Energy Is A Profitable, Undervalued, Coal Company [View article]
@CoolWatch: SAIC filings by foreign invested enterprises are public information in China - all you need to know to access it is the registration number and the precise name of the company. For example, I have reviewed the SAIC filings by the operating sub of the fraud YONG for fiscal years 2010 and 2011. Note that I am not talking about filings obtained from credit bureaus or other secondary sources - I am talking about the electronic filings submitted directly to (and reviewed by) the local branches of the Ministry of Commerce, the State Administration of Taxation, the State Administration of Foreign Exchange, the Ministry of Finance, and the National Bureau of Statistics. My reviews show that YONG is lying not only to US investors but also to the Chinese government (its SAIC filings not just contradict the SEC filings, they are also self-contradictory).
So any company that refuses to provide its SAIC filings and a reconciliation between those filings and its SEC filings should be considered a fraud, by default. If you are telling me that very few Chinese RTOs of the FIE variety provide such a reconciliation, then you are telling me that very few of the Chinese RTOs are not frauds.
L&L Energy Is A Profitable, Undervalued, Coal Company [View article]
@Adam: Mr. Madoff was (and still is) a US citizen, the last time I checked. Yet he committed fraud for 20+ years in a row. So did Mr. Wasendorf of PFG.
@Arthur_Big: You are posting in the wrong place. If you don't care about YONG but only care about me, you should create a website dedicated to me and post there all you want all day. This is an article about YONG. It shows that YONG's officers and directors lied either to their Chinese audience or to the SEC and investors, or both. Whether I lie or not is irrelevant - what's relevant is the existence of the two books and YONG's SEC filings, and the fact that they contradict each other.
1. YONG's "two new products" are not branded Shengmingsu - they are actually two new BRANDS - Zhongbaosheng and Qianggenbao, which contradicts the CFO's previous claims that YONG will only do Shengmingsu.
2. The "two new products" have the exact chemical composition of the plant/crop product branded Shengmingsu.
3. The Shengmingsu trademark does not belong to YONG, contrary to YONG's SEC filings.
Your inability to read has caused your losses!
The author's beliefs are irrelevant here: YONG's officers and directors lied either in the SEC filings or in the two books. You pick!
The article is not moot. If we are to believe the two books, there can't be any accounts receivables, and therefore, there can't be any $200 million in cash, regardless of YONG's claims. Alternatively, if YONG's Director and COO lied in his book with the approval of the other officers and directors, then how do you trust anything YONG says?
Yongye International's Unraveling Shroud Of Opacity [View article]
@kuala1: YONG is a complete fraud. When you looked at the Chinese websites, did they talk about Yongye International (and its subs) or Yongye Group - these are different companies, according to YONG's management! Are you aware that the wife of YONG's CEO has a media company that specializes in promotional planting of favorable "stories" all over the internet?
YONG's plant/crop product is not like a shampoo. It is a heavily diluted regular NPK fertilizer, according to YONG's fertilizer license. The so-called "fulvic acid" is an inert ingredient and accounts for just 5% of the product content.
Yongye's Top Customers: Discrepancies and Inconsistencies [View article]
@ldsneg: Shortselling is not illegal. The author is not responsible for the twenty discrepancies and inconsistencies in YONG's significant-customer disclosures. YONG and YONG's auditors are.
How to Detect Potential Chinese Stock Frauds [View article]
Can you please explain to us why WATG turned out to be a complete fraud? I mean, they had plenty of media exposure, great Chinese websites for their subs, detailed information about partners/ suppliers /clients / etc. etc ...
Similarly, can you explain to us why YONG is a complete fraud, even though they have constant media coverage, and high-ranking communist officials visit and "inspect" their operations every three months or so?
Here is the only true way to detect potential Chinese stock frauds: Assume any Chinese stock listed on a US exchange (instead of in mainland China) is a fraud, and try to prove the opposite!
Does Yongye Sell On Credit? [View article]
Questioning China XD Plastics' SEC Filings [View article]
docs.google.com/leaf?i...
The analysis by the Skeptical Investor is classic and deserves a careful read.
Yongye's Top Customers: Discrepancies and Inconsistencies [View article]
Yongye: When A Halt Is Just A Start [View article]
Yongye: When A Halt Is Just A Start [View article]
L&L Energy Is A Profitable, Undervalued, Coal Company [View article]
So any company that refuses to provide its SAIC filings and a reconciliation between those filings and its SEC filings should be considered a fraud, by default. If you are telling me that very few Chinese RTOs of the FIE variety provide such a reconciliation, then you are telling me that very few of the Chinese RTOs are not frauds.
L&L Energy Is A Profitable, Undervalued, Coal Company [View article]
L&L Energy Is A Profitable, Undervalued, Coal Company [View article]
Does Yongye Sell On Credit? [View article]
Does Yongye Sell On Credit? [View article]
1. YONG's "two new products" are not branded Shengmingsu - they are actually two new BRANDS - Zhongbaosheng and Qianggenbao, which contradicts the CFO's previous claims that YONG will only do Shengmingsu.
2. The "two new products" have the exact chemical composition of the plant/crop product branded Shengmingsu.
3. The Shengmingsu trademark does not belong to YONG, contrary to YONG's SEC filings.
Your inability to read has caused your losses!
The author's beliefs are irrelevant here: YONG's officers and directors lied either in the SEC filings or in the two books. You pick!
The article is not moot. If we are to believe the two books, there can't be any accounts receivables, and therefore, there can't be any $200 million in cash, regardless of YONG's claims. Alternatively, if YONG's Director and COO lied in his book with the approval of the other officers and directors, then how do you trust anything YONG says?
Yongye International's Unraveling Shroud Of Opacity [View article]
YONG's plant/crop product is not like a shampoo. It is a heavily diluted regular NPK fertilizer, according to YONG's fertilizer license. The so-called "fulvic acid" is an inert ingredient and accounts for just 5% of the product content.
How to Detect Potential Chinese Stock Frauds [View article]
www.citronresearch.com.../
Yongye's Top Customers: Discrepancies and Inconsistencies [View article]
Yongye's Top Customers: Discrepancies and Inconsistencies [View article]